The Future Of Healthcare Contracting: 2025 Trends And Predictions
Healthcare contracting sits at the crossroads between falling behind the curve and becoming more transparent than ever before. Now is the time to start using powerful healthcare contracting automation tools to set the foundation for your organization’s future.
The future of the healthcare contracting industry lies in AI tools that slice into current challenges and provide solutions that your organization – and partners – can count on. Since current methods of healthcare contracting are often inefficient and inaccurate, AI automation provides a solution you can implement quickly.
What does healthcare contracting automation look like now and how will it change in the next few years?
The Challenges Facing Healthcare Organizations
The American healthcare industry is struggling against issues such as outdated healthcare technology, a rapidly aging population, and increasing demand for improved healthcare outcomes. When the field of health can change on a dime, the need for agile AI automation tools only gets stronger from here.
According to The Commonwealth Fund, the United States’ high healthcare spending continues to clash with its lower healthcare outcomes. This healthcare spending trend has been accelerating since the 1980's and is showing no signs of slowing down anytime soon.
Additional 2023 data from the American Hospital Association also reported higher labor costs making it difficult for healthcare organizations to invest in vital technological advancements. Unless significant operational improvements emerge, the administrative burden and increasing expenses will create an unsustainable foundation.
What do these current challenges mean for your organization? Whether you’re facing significant challenges in healthcare contracting or minor setbacks, all signs point to increased innovation in this sector. Mounting costs and inefficient processes are set to deprive you and your partners of partnerships that could shape your organization’s success.
We have a few thoughts on the trends shaping healthcare contracting and what it will mean for hospitals and clinics over the next few years.
3 Key Trends Shaping Healthcare Contracting
According to an AMA survey, nearly two-thirds of physicians saw significant advantages to using AI for their healthcare needs. This perspective is just the beginning of the gradual shift the healthcare industry is experiencing after years of developing technology, inefficient processes, and too many dissatisfied payers.
Below are a few key trends that will transform the healthcare contracting industry and provide a new standard for healthcare organizations to reach.
Data Transparency
While hospitals and health systems report some of the largest data sets in the world, growing evidence suggests data transparency still isn’t in the cards. According to a report by the American Hospital Association, hospital reporting is extremely costly and hospital data requirements are struggling to keep up with new challenges.
With healthcare contracting relying on consistent data transparency across all parties, failing to maintain high-quality standards means you risk losing valuable partnerships or money. Payer price transparency is not only essential for reducing the clean-up that comes with human error, but for building trust.
In the near future, payer price transparency will be non-negotiable. All parties need to remain on the same page when it comes to building partnerships, purchasing services, and maintaining a high standard of medical care.
AI Automation
From our research, AI tools will help create the most efficient and cost-effective healthcare system, from payer price transparency to reduced risk for error. According to a technology survey by Statista, the majority of healthcare organizations who responded stated they are actively looking for AI solutions, already using them, or are evaluating AI use cases.
As healthcare needs continue to evolve, AI automation presents several essential functions that will become impossible to ignore.
Healthcare contracting continues to face costly and time-consuming challenges such as missed opportunities for better rates, inaccurate data, and minor errors that cause major problems down the road. While human oversight will always be essential to the process, specialized AI tools shave down the time needed to research, negotiate, and finalize contracts.
That means less time spent over contracting and more time on managing your organization.
Value-Based Agreements
The ultimate goal of healthcare contracting is to provide a solution that benefits all parties. When contracts are incredibly complex at the best of times, crafting transparent and consistent value-based agreements are key to building long-term trust.
What separates a value-based agreement from a traditional contract is its philosophy. While a general contract focuses more on the services provided from one party to another, a value-based agreement goes for a results-focused approach. Value-based agreements focus on mutually agreed-upon terms based on the effectiveness of the services.
For example, this effectiveness could look at long-term patient healthcare outcomes or maintaining a consistent cost value in relation to successful patient health outcomes.
What makes value-based agreements so effective is how well they reduce the cost of unnecessary services and provide increased value to customers. They focus on patient health and operational efficiency to ensure the industry remains sustainable for years.
How Trek Health Works With Organizations To Improve Healthcare Contracting
Healthcare contracting has never been in a better spot to be more cost-effective, transparent, and helpful. Trek Health is an industry leader providing healthcare organizations, hospitals, and clinics with the tools they need to save money and build valuable partnerships.
Over the years, we’ve noticed the difficulties facing healthcare professionals as they try to navigate the convoluted field of healthcare contracting. We understand the challenges that come with navigating details such as fixed rate reimbursements, case rates, fee schedules, and data transparency.
With so much information to keep track of, details commonly get lost in the shuffle and providers lose crucial opportunities for value-based agreements.
As such, we’re launching an AI co-pilot to provide healthcare professionals the advanced tools they need to save time and money in the healthcare contracting process. Instead of a generic, one-size-fits-all AI automation tool, we provide a specialized industry solution.
Our AI co-pilot comes in two tiers to better suit your operational and financial needs: Trek Pro and Trek Enterprise.
The Advantages Of Trek Pro
Trek Pro is an AI solution that offers a suite of transparency tools to help you approach contract negotiations from every possible angle. If you’ve ever wondered if you could have settled on another rate or missed out on a valuable opportunity, you can finally move forward to your next negotiation with confidence.
With Trek Pro, you’ll receive rate summaries across geographies, deep dives into competitor rates to give you the full picture, and hidden opportunities you may have missed. You can think of this tool like a digital partner that always stays two steps ahead of the competition with the most cutting-edge technology available today.
The Advantages Of Trek Enterprise
Without AI tools providing you with a wealth of accurate and timely data, you risk falling behind in negotiations and missing out on valuable opportunities. Trek Enterprise gives you the upper hand by offering keen probability rates that tell you which opportunities are worth taking and which should be left behind.
Our platform Trek Enterprise provides a convenient chatbot that answers questions, proposes solutions, and acts as your partner on your way to the best possible conclusion. You can even track past and future outcomes to increase your chances of a more successful negotiation for future healthcare contracting.
Ready to make a change in your healthcare contracting process? All you have to do is sign up.
Sign Up For Trek Health’s AI Co-Pilot To Navigate Healthcare Contracting
Healthcare contracting is changing as you read this, evolving to be more cost-effective, accurate, and valuable to all parties. If you’re ready to start negotiating fair rates and crafting airtight contracts, it’s time to use healthcare contracting automation tools.
Our AI co-pilot provides convenient chatbot features, useful research on competitor rates, and the ability to track both past and future outcomes. Instead of trying to wrestle a generic AI solution to fit your needs, start with a healthcare-focused partner that puts your industry first.
Sign up for our waitlist to gain early access to our AI-powered healthcare contracting automation tool. With the aid of AI, you can finally stop leaving money on the table and start crafting valuable contracts that support high-quality healthcare for all.
